SAN FRANCISCO, CA, Livionex Pharma announced the closing of an oversubscribed $4 million Series A round at a $180 million valuation.
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What if one biotech company could potentially prevent and treat prevalent diseases, such as gingivitis, periodontitis, cataracts, and herpes simplex virus? Today, Livionex emerges out of stealth with 2 major announcements:
The closing of an oversubscribed $4 million Series A round at a $180 million valuation from select private investors and family offices.
The launch of the Company's new and improved oral care line, LIVFRESH (www.getlivfresh.com) as a dentist-recommended, clinically proven solution for eliminating plaque.
The funding will be used to accelerate the growth of their technology that is advancing treatments for gum disease, cataracts, and herpes simplex virus.
Using safe, edible ingredients on the FDA's GRAS list, LIVFRESH Dental Gel has been clinically proven to remove plaque 250% better than a market leading toothpaste and is currently being evaluated by the FDA to become the world's first and only oral care product to treat both gingivitis and periodontitis (terminal gum disease). According to the CDC, nearly 200 million Americans experience some form of gum inflammation, and until now, oral surgery has been the only viable treatment. The funding will be used to accelerate growth and market penetration of LIVFRESH in the US and Asian markets. Now available, you can learn more about LIVFRESH at www.getlivfresh.com.
Livionex is scheduling a Phase 2C study to help its eye-drops become the first non-invasive treatment to improve vision in early-to-moderate cataract patients. Cataracts are the #1 cause of vision loss and are widely considered as an inevitable aspect of aging. According to the National Eye Institute, by 2050, the number of people in the U.S. with cataract problems is expected to double from 24.4 million to about 50 million.
Awarded grants by the National Institutes of Health and the Department of Defense, Livionex has created a transdermal lotion, which could prevent Herpes Simplex Virus eruptions. To put this in perspective, 67% of the global population, or 3.7 billion people, are infected with HSV-1, and 1/4 of those with HSV-1 experience recurrence.
The $4MM Series A represents Livionex's first acceptance of external funding since the Company's founding in 2009. Previously self-funded by Amit Goswamy and his partners, Livionex is cash-flow positive and has over 44 patent filings globally to date. The Company looks to IPO in 2021.
Livionex Inc. was founded in 2009 by Stanford and Berkeley alums with the goal of enhancing the quality and longevity of human life. Headquartered in Los Gatos, CA, Livionex develops novel therapies for a variety of age-related chronic diseases affecting billions of people worldwide. The Company's products are based on its proprietary technology that modulates metal ions that cause oxidative stress and disease. The Company is introducing a new category of treatment for various disorders and diseases associated with metalo lipid protein aggregates, inflammation, and/or bacterial biofilms across ophthalmology, dermatology and oral care. More can be found at www.getlivfresh.com